Retail Sales Surprise & Interest Rates Unchanged

On balance, a good week: market ended positive, the Rand still relatively strong and Eskom has a new board and acting CEO (at the eleventh hour). November retail sales surprised to the upside, coming in at 8.2% versus market expectations of 3.5% – looks like Black Friday sales worked! Unfortunately the positivity hasn’t flowed through to all the retailers who put out trading updates: Woolworths, Shoprite & The Foschini group. The MPC leaves interest rates – voting 5:2, and Viceroy shortseller is unveiled.